This course is specially designed for Top Managements, Senior Managers or Executives who are involved in developing, leading and managing the implementation of performance management and measurement in the organization.
One of the main challenges of developing a Balanced Scorecard or KPIs metrics is defining the objective that fit the strategy and specific measurements which will be most effective in guiding the organization to execute the strategy & create value for its stakeholders which is periodic performance monitoring.
Improve Cost Efficiency: Companies use a balanced scorecard to assess and improve their cost efficiency in the internal processes and growth in several key ways.
Practical Training: This practical application walks you through the Strategy and the four major areas on a balanced scorecard and an example scorecard you can use now to assess your organization.
Upon completion of the training session, you will be able to:-
Certified Balanced Scorecard Specialist
P. Rajoo is an experienced management consultant in Strategic Management. He has been involved in Corporate Performance Management, involving setting strategic direction, process measurement, aligning to reward management. He has gained 20 years of experience in multinational semiconductor environment , providing strategy, process, logistic supply chain and capability performance improvement services. He was a retainer consultant in local financial institution focusing on Quality Management and design, implement and use of performance measurement systems.
P. Rajoo has experience in a wide range of industries including electronics, banking, manufacturing and more. In Balanced Scorecard Design and Project Implementation, he has 6 to 7 years of experience in developing Balanced Scorecard in USA, Singapore, Indonesia and Malaysia environment. Currently, he is appointed as Balanced Scorecard (BSC) Consultant to develop the National KPIs for the Government of Brunei. As both a practitioner and consultant, he has developed successful Performance Measurement System using Kaplan’s framework for measuring and managing the strategic plan.
We can share our experience and hands-on to facilitate key people in an organization to relearn and build skill sets which can utilize the tools of BSC Framework or KPIs in executing the STRATEGIES and PERFORMANCE MONITORING and ANALYSIS.
In this training, you will be able to:-
Choosing the right objective and measures can have a significant impact on how your performance measurement strategy gets translated into a balanced set of indicators. Given the uniqueness of each organization, the types of measures that are valued vary drastically.
This practical training will address how to identify and develop measures that are able to capture the targets to drive the performance of the organization. The core focus areas to guide the participants in the training program to address scorecard challenges & solutions
We have designed the learning contents in modules. In every module, we facilitate the practice learning with real life examples.
Click on each module to expand & see more details.
Strategy & Where Does the Balanced Scorecard Fit In?
1. What is Strategy & Strategic Planning Process is all about?
- Setting Strategic Direction……Making choices what the organization need to do to achieve its Vision and Mission
- Strategic results/ Strategic themes. Critical Areas of Focus
2. Breaking into operational terms (A Set of Strategic Objectives to reflect Strategic Themes)
3. Performance & Measurement
4. Effective Data Analysis
5. How KPI Fit In? Finding the correct KPIs for your organization.
Strategic Themes, Objectives & Maps
- Identify Strategic Objectives in the perspectives
- Ability to link & communicate the cause/ effect relationship…..How and What if
Tiers in KPIs (Strategic Level, Operational Level & Individual Level objectives)?
- Are your KPIs focus on strategic intended results?
Strategic Themes. Validating & Developing Strategy Map
1. Agency Strategy in Four Perspectives
- Outcome Perspective
- Select Drivers in the Internal Business Processes
2. Develop Template for the Agency. Strategy Map (Cause/Effect Relationship)
- Show relationship between internal process perspectives & outcome perspectives
- Objective Owners
Scorecard Challenges & Solutions
Click on each module to expand & see more details.
Balanced Scorecard Translate Strategy into Operational Terms
1. Strategy: Operational Efficiency
2. The Balanced Scorecard & the Four Components
3. Build a Strategy Map
4. Writing Objective Statement
Crafting Performance Measures
1. Organization understanding of the set of key performance indicators
- Strategic and Operational Measures
- State the intended results to achieve in each perspective
2. How to Identify Key Areas for Measurement?
- Outcome (Financial/Customer)
- Drivers in the internal business process
- Organizational Capability
- Criteria for Targets
- Stretch Targets
- Method for Setting Target
Initiatives: Close Strategic Performance Gaps
- Identify initiatives to achieve strategic objectives
- Selection process
- Evaluate Performance/Reporting
Practice: Discuss challenges and Solutions
Workshop 2: Reporting & Effective Data Analysis
- How Analysis Differs from Reporting?
- Performance Analysis: Process (Collection, Analysis, Presentation)
- Target Data is Analysed (Why and Why Not Met)
- Initiative Data is Analysed to Understand Why or Why Not on Plan
IIAA Analysis Framework: Score Card Review Process in the Organization
1.Mapping and prioritising initiatives
2. Designing initiative template
- Initiatives description
- Strategic impact
- Resources allocation requirements
- Key skills in implementation
- Risk Assessment and Mitigation